Tencent Makes Offer for Gaming Company Funcom

Date : 01/22/2020 @ 9:15AM
Source : Dow Jones News
Stock : Tencent Holdings Ltd (PK) (TCEHY)
Quote : 53.3  -0.22 (-0.41%) @ 9:07PM
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Last $ 53.30 ◊ 0.00 (0.00%)

Tencent Makes Offer for Gaming Company Funcom

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   By Yifan Wang 

Tencent Holdings Ltd. (0700.HK) has made a cash offer for Netherlands-based Funcom SE (FUNCOM.OS) in a deal that values the computer games maker at 1.33 billion Norwegian kroner (US$147.9 million), the two companies said Wednesday.

The Chinese internet giant has offered to buy all the Funcom shares it doesn't already own for NOK17.00 each, representing a 27% premium to Funcom's last closing price at NOK13.35.

Tencent is one of Norway-listed Funcom's largest shareholders. It currently has a 29% stake in the company, FactSet data shows.

Funcom shares rose 26% to NOK16.83 following news of the deal.


Write to Yifan Wang at yifan.wang@wsj.com


(END) Dow Jones Newswires

January 22, 2020 04:00 ET (09:00 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.

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